Determining The Value Of Non Marketed Goods

Author : Raymond J. Kopp,Werner W. Pommerehne,Norbert Schwarz
Publisher : Springer Science & Business Media
Page : 337 pages
File Size : 52,6 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9789401153645

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Determining the Value of Non-Marketed Goods by Raymond J. Kopp,Werner W. Pommerehne,Norbert Schwarz Pdf

Contingent valuation (CV) measures what is called passive use value or existence value. The CV method has been used to measure the benefits of environmental policy actions. CV measures of economic value rely on choice. In CV studies, choices are posed to people in surveys; analysts then use the responses to these choice questions to construct monetary measures of value. The specific mechanism used to elicit respondents' choices can take a variety of forms, including asking survey respondents whether they would purchase, vote, or pay for a program or some other well-defined object of choice. It can also be a direct elicitation of the amount each respondent would be willing to pay (WTP) to obtain an object of choice or the amount each respondent would be willing to accept (WTA) in compensation to give it up. This volume is composed of three sections. The first section provides background into the issues underlying the public and academic discussion regarding CV and the reliability of CV estimates of economic value. In addition, this section reviews the theory underlying the measurement of economic value and discusses those aspects of the theory most relevant to CV. The second section focuses on issues that have formed the core of the CV discussions including: sensitivity of WTP estimates to the size of the program offered, tests for theoretical consistency of CV results, and the sensitivity of results to context and numerous other features of the survey and its administration. The final section addresses the application of CV to actual economic valuation tasks and discusses the types of practical problems the CV researcher will encounter.

Author : Patricia A. Champ,Kevin J. Boyle,Thomas C. Brown
Publisher : Springer
Page : 504 pages
File Size : 52,8 Mb
Release : 2017-02-08
Category : Business & Economics
ISBN : 9789400771048

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A Primer on Nonmarket Valuation by Patricia A. Champ,Kevin J. Boyle,Thomas C. Brown Pdf

This is a practical book with clear descriptions of the most commonly used nonmarket methods. The first chapters of the book provide the context and theoretical foundation of nonmarket valuation along with a discussion of data collection procedures. The middle chapters describe the major stated- and revealed-preference valuation methods. For each method, the steps involved in implementation are laid out and carefully explained with supporting references from the published literature. The final chapters of the book examine the relevance of experimentation to economic valuation, the transfer of existing nonmarket values to new settings, and assessments of the reliability and validity of nonmarket values. The book is relevant to individuals in many professions at all career levels. Professionals in government agencies, attorneys involved with natural resource damage assessments, graduate students, and others will appreciate the thorough descriptions of how to design, implement, and analyze a nonmarket valuation study.

Author : Nathaniel O. Keohane,Sheila M. Olmstead
Publisher : Island Press
Page : 328 pages
File Size : 43,8 Mb
Release : 2016-01-05
Category : Business & Economics
ISBN : 9781610916073

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Markets and the Environment, Second Edition by Nathaniel O. Keohane,Sheila M. Olmstead Pdf

"A clear grasp of economics is essential to understanding why environmental problems arise and how we can address them. ... Now thoroughly revised with updated information on current environmental policy and real-world examples of market-based instruments .... The authors provide a concise yet thorough introduction to the economic theory of environmental policy and natural resource management. They begin with an overview of environmental economics before exploring topics including cost-benefit analysis, market failures and successes, and economic growth and sustainability. Readers of the first edition will notice new analysis of cost estimation as well as specific market instruments, including municipal water pricing and waste disposal. Particular attention is paid to behavioral economics and cap-and-trade programs for carbon."--Publisher's web site.

Author : Edward Barbier,M. C. Acreman,Duncan Knowler
Publisher : Unknown
Page : 146 pages
File Size : 49,6 Mb
Release : 1997
Category : Business & Economics
ISBN : UCSD:31822025747148

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Economic Valuation of Wetlands by Edward Barbier,M. C. Acreman,Duncan Knowler Pdf

Author : Ian Bateman,Kenneth George Willis
Publisher : Oxford University Press, USA
Page : 678 pages
File Size : 40,9 Mb
Release : 2001
Category : Business & Economics
ISBN : 0199248915

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Valuing Environmental Preferences by Ian Bateman,Kenneth George Willis Pdf

The questionnaire-based Contingent Valuation Method (CVM) asks people what would they be willing to pay for an environmental good or attribute, or willing to accept for its loss. These papers consider the real value of such surveys.

Author : Robert A. Young,John B. Loomis
Publisher : Routledge
Page : 359 pages
File Size : 52,5 Mb
Release : 2014-07-23
Category : Business & Economics
ISBN : 9781135040529

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Determining the Economic Value of Water by Robert A. Young,John B. Loomis Pdf

Water provides benefits as a commodity for agriculture, industry, and households, and as a public good such as fisheries habitat, water quality and recreational use. To aid in cost-benefit analysis under conditions where market determined price signals are usually unavailable, economists have developed a range of alternative valuation methods for measuring economic benefits. This volume provides the most comprehensive exposition to-date of the application of economic valuation methods to proposed water resources investments and policies. It provides a conceptual framework for valuation of both commodity and public good uses of water, addressing non-market valuation techniques appropriate to measuring public benefits - including water quality improvement, recreation, and fish habitat enhancement. The book describes the various measurement methods, illustrates how they are applied in practice, and discusses their strengths, limitations, and appropriate roles. In this second edition, all chapters have been thoroughly updated, and in particular the coverage of water markets and valuation of ecosystem services from water has been expanded. Robert Young, author of the 2005 edition, has been joined for this new edition by John Loomis, who brings additional expertise on ecosystem services and the environmental economics of water for recreational and other public good uses of water.

Author : Robert J. Johnston,John Rolfe,Randall S. Rosenberger,Roy Brouwer
Publisher : Springer
Page : 582 pages
File Size : 42,8 Mb
Release : 2015-06-02
Category : Business & Economics
ISBN : 9789401799300

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Benefit Transfer of Environmental and Resource Values by Robert J. Johnston,John Rolfe,Randall S. Rosenberger,Roy Brouwer Pdf

This book provides a comprehensive review of environmental benefit transfer methods, issues and challenges, covering topics relevant to researchers and practitioners. Early chapters provide accessible introductory materials suitable for non-economists. These chapters also detail how benefit transfer is used within the policy process. Later chapters cover more advanced topics suited to valuation researchers, graduate students and those with similar knowledge of economic and statistical theory and methods. This book provides the most complete coverage of environmental benefit transfer methods available in a single location. The book targets a wide audience, including undergraduate and graduate students, practitioners in economics and other disciplines looking for a one-stop handbook covering benefit transfer topics and those who wish to apply or evaluate benefit transfer methods. It is designed for those both with and without training in economics

Author : John Whitehead,Tim Haab,Ju-Chin Huang
Publisher : Routledge
Page : 343 pages
File Size : 50,5 Mb
Release : 2012-03-15
Category : Business & Economics
ISBN : 9781136812224

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Preference Data for Environmental Valuation by John Whitehead,Tim Haab,Ju-Chin Huang Pdf

The monetary valuation of environmental goods and services has evolved from a fringe field of study in the late 1970s and early 1980s to a primary focus of environmental economists over the past decade. Despite its rapid growth, practitioners of valuation techniques often find themselves defending their practices to both users of the results of applied studies and, perhaps more troubling, to other practitioners. One of the more heated threads of this internal debate over valuation techniques revolves around the types of data to use in performing a valuation study. In the infant years of the development of valuation techniques, two schools of thought emerged: the revealed preference school and the stated preference school, the latter of which is perhaps most associated with the contingent valuation method. In the midst of this debate an exciting new approach to non-market valuation was developed in the 1990s: a combination and joint estimation of revealed preference and stated preference data. There are two primary objectives for this book. One objective is to fill a gap in the nonmarket valuation "primer" literature. A number of books have appeared over the past decade that develop the theory and methods of nonmarket valuation but each takes an individual nonmarket valuation method approach. This book considers each of these valuation methods in combination with another method. These relationships can be exploited econometrically to obtain more valid and reliable estimates of willingness-to-pay relative to the individual methods. The second objective is to showcase recent and novel applications of data combination and joint estimation via a set of original, state-of-the-art studies that are contributed by leading researchers in the field. This book will be accessible to economists and consultants working in business or government, as well as an invaluable resource for researchers and students alike.

Author : Robert Cameron Mitchell,Richard T. Carson
Publisher : Resources for the Future
Page : 496 pages
File Size : 55,7 Mb
Release : 1989
Category : Business & Economics
ISBN : 0915707322

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Using Surveys to Value Public Goods by Robert Cameron Mitchell,Richard T. Carson Pdf

Provides decision makers, policy analysts, and social scientists, with a detailed discussion of a new techniques for the valuation of goods not traded in prevate markets.

Author : Anna Alberini,Joseph Cooper
Publisher : Food & Agriculture Org.
Page : 76 pages
File Size : 46,5 Mb
Release : 2000
Category : Business & Economics
ISBN : 9251045275

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Applications of the Contingent Valuation Method in Developing Countries by Anna Alberini,Joseph Cooper Pdf

Agriculture, in addition to producing food, hides and fibre, also provides many other goods and services not priced in the market. These include environmental outputs such as rural amenities and disamenities, but also social and cultural functions. The economic value of these non-market goods and services of agriculture can be assessed by estimating how much purchasing power people would be willing to give up to acquire those outputs if they were forced to make a choice. The contingent valuation method (CVM) is one of the most widely used methodologies developed for the measurement of the value of non-market goods.

Author : Bengt Kriström
Publisher : Unknown
Page : 194 pages
File Size : 46,7 Mb
Release : 1990
Category : Economic development
ISBN : MINN:31951D00511113W

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Valuing Environmental Benefits Using the Contingent Valuation Method by Bengt Kriström Pdf

Author : Robert Cameron Mitchell,Richard T. Carson
Publisher : Routledge
Page : 460 pages
File Size : 50,7 Mb
Release : 2013-10-18
Category : Technology & Engineering
ISBN : 9781135887810

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Using Surveys to Value Public Goods by Robert Cameron Mitchell,Richard T. Carson Pdf

Economists and others have long believed that by balancing the costs of such public goods as air quality and wilderness areas against their benefits, informed policy choices can be made. But the problem of putting a dollar value on cleaner air or water and other goods not sold in the marketplace has been a major stumbling block. Mitchell and Carson, for reasons presented in this book, argue that at this time the contingent valuation (CV) method offers the most promising approach for determining public willingness to pay for many public goods---an approach likely to succeed, if used carefully, where other methods may fail. The result of ten years of research by the authors aimed at assessing how surveys might best be used to value public goods validly and reliably, this book makes a major contribution to what constitutes best practice in CV surveys. Mitchell and Carson begin by introducing the contingent valuation method, describing how it works and the nature of the benefits it can be used to measure, comparing it to other methods for measuring benefits, and examining the data-gathering technique on which it is based---survey research. Placing contingent valuation in the larger context of welfare theory, the authors examine how the CV method impels a deeper understanding of willingness-to-pay versus willingness-to-accept compensation measures, the possibility of existence values for public goods, the role of uncertainty in benefit valuation, and the question of whether a consumer goods market or a political goods market (referenda) should be emulated. In developing a CV methodology, the authors deal with issues of broader significance to survey research. Their model of respondent error is relevant to current efforts to frame a theory of response behavior and bias typology will interest those considering the cognitive aspects of answering survey questions. Mitchell and Carson conclude that the contingent valuation method can obtain valid valuation information on public goods, but only if the method is applied in a way that addresses the potential sources of error and bias. They end their book by providing guidelines for CV practitioners, a list of questions that should be asked by any decision maker who wishes to use the findings of a CV study, and suggestions for new applications of contingent valuation. Additional features include a comprehensive bibliography of the CV literature and an appendix summarizing more than 100 CV studies.

Author : Anthony C. Fisher
Publisher : Springer Nature
Page : 158 pages
File Size : 40,5 Mb
Release : 2020-06-26
Category : Business & Economics
ISBN : 9783030489588

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Lecture Notes on Resource and Environmental Economics by Anthony C. Fisher Pdf

This book, based on lectures on natural and environmental resource economics, offers a nontechnical exposition of the modern theory of sustainability in the presence of resource scarcity. It applies an alternative take on environmental economics, focusing on the economics of the natural environment, including development, computation, and potential empirical importance of the concept of option value, as opposed to the standard treatment of the economics of pollution control. The approach throughout is primarily conceptual and theoretical, though empirical estimation and results are sometimes noted. Mathematics, ranging from elementary calculus to more formal dynamic optimization, is used, especially in the early chapters on the optimal management of exhaustible and renewable resources, but results are always given an economic interpretation. Diagrams and numerical examples are also used extensively. The first chapter introduces the classical economists as the first resource economists, in their discussion of the implications of a limited natural resource base (agricultural land) for the evolution of the wider economy. A later chapter returns to the same concerns, along with others stimulated by the energy and environmental “crises” of the 1970s and beyond. One section considers alternative measures of resource scarcity and empirical findings on their behavior over time. Another introduces the modern concept of sustainability with an intuitive development of the analytics. A chapter on the dynamics of environmental management motivates the concept of option value, shows how to compute it, then demonstrates its importance in an illustrative empirical example. The closing chapter, on climate change, first projects future changes and potential catastrophic impacts, then discusses the policy relevance of both option value and discounting for the very long run. This book is intended for resource and environmental economists and can be read by interested graduate and advanced undergraduate students in the field as well.

Author : United States. Environmental Protection Agency. Office of Health and Ecological Effects
Publisher : Unknown
Page : 242 pages
File Size : 44,7 Mb
Release : 1979
Category : Air
ISBN : UCBK:C028758087

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Brookshire, D.S. ... et al. Experiments in valuing non-market goods: A case study of alternative benefit measures of air pollution control in the south coast air basin of Southern California by United States. Environmental Protection Agency. Office of Health and Ecological Effects Pdf

Author : Richard T. Carson,Michael B. Conaway,W. Michael Hanemann,Jon A. Krosnick,Robert C. Mitchell,Stanley Presser
Publisher : Springer Science & Business Media
Page : 260 pages
File Size : 55,5 Mb
Release : 2013-11-09
Category : Business & Economics
ISBN : 9781402028649

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Valuing Oil Spill Prevention by Richard T. Carson,Michael B. Conaway,W. Michael Hanemann,Jon A. Krosnick,Robert C. Mitchell,Stanley Presser Pdf

This book documents a contingent valuation study for a significant environmental good: preventing the likely injuries from oil spills on the coast of Central California. It functions as a 'how-to' guide by documenting design, administration, and analysis of such studies, to reduce the long lead time which characterizes most economic damage assessments. The book includes a CD-ROM containing a wealth of additional material: data, questionnaires, transcripts and more.